SouthState Corp Acquires 252 Shares of UnitedHealth Group Incorporated (NYSE:UNH)

SouthState Corp boosted its position in shares of UnitedHealth Group Incorporated (NYSE:UNH) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,805 shares of the healthcare conglomerate’s stock after purchasing an additional 252 shares during the period. SouthState Corp’s holdings in UnitedHealth Group were worth $5,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vance Wealth Inc. acquired a new position in shares of UnitedHealth Group during the 3rd quarter worth approximately $223,000. First City Capital Management Inc. raised its stake in UnitedHealth Group by 2.7% in the third quarter. First City Capital Management Inc. now owns 1,131 shares of the healthcare conglomerate’s stock valued at $661,000 after buying an additional 30 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in UnitedHealth Group by 15.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 12,018 shares of the healthcare conglomerate’s stock valued at $7,027,000 after purchasing an additional 1,594 shares during the last quarter. BIP Wealth LLC grew its stake in UnitedHealth Group by 51.0% in the 3rd quarter. BIP Wealth LLC now owns 610 shares of the healthcare conglomerate’s stock valued at $357,000 after buying an additional 206 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in UnitedHealth Group by 2.2% in the 3rd quarter. Prospera Financial Services Inc now owns 18,926 shares of the healthcare conglomerate’s stock valued at $11,074,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

UnitedHealth Group Stock Performance

NYSE UNH opened at $589.65 on Tuesday. UnitedHealth Group Incorporated has a 1 year low of $436.38 and a 1 year high of $630.73. The firm has a market cap of $542.64 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 1.74 and a beta of 0.58. The company has a fifty day moving average price of $582.75 and a 200-day moving average price of $550.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91.

UnitedHealth Group (NYSE:UNH) last issued its quarterly earnings results on Tuesday, October 15th. The healthcare conglomerate reported $7.15 EPS for the quarter, topping analysts’ consensus estimates of $7.00 by $0.15. UnitedHealth Group had a return on equity of 26.37% and a net margin of 3.63%. The business had revenue of $100.82 billion for the quarter, compared to analyst estimates of $99.14 billion. During the same period last year, the company posted $6.56 earnings per share. UnitedHealth Group’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that UnitedHealth Group Incorporated will post 27.6 EPS for the current fiscal year.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Monday, December 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, December 9th. UnitedHealth Group’s payout ratio is presently 54.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $625.00 price target (down previously from $640.00) on shares of UnitedHealth Group in a research report on Wednesday, October 16th. Cantor Fitzgerald boosted their price target on UnitedHealth Group from $591.00 to $644.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of UnitedHealth Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. KeyCorp started coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They set an “overweight” rating and a $675.00 price target for the company. Finally, Bank of America lowered their price objective on UnitedHealth Group from $675.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $615.53.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.